Commercial Property — 622 Grand Fir Avenue, Sunnyvale, CA
$2,680,000
622 Grand Fir Avenue, Sunnyvale, CA
About this property
Rare 7-unit apartment investment opportunity in Sunnyvale, offered at $382,857 per unit. The fully occupied property features an attractive unit mix of one three-bedroom/two-bathroom, two two-bedroom/one-bathroom, and four one-bedroom/one-bathroom units, totaling 5,217 square feet on a 0.25-acre lot. The well-maintained 1959-built property features dual-pane windows throughout and updated Siemens electrical sub-panels. Long-term ownership and current rents provide significant rental upside, with no citywide rent control ordinance currently in place. Sunnyvale's strong rental market has experienced nearly 10% year-over-year rent growth, supporting continued income growth. The property offers a 6.92% pro forma cap rate based on projected market rents. This offering provides an opportunity to acquire a fully occupied Sunnyvale multifamily asset with stable in-place income and a clear path to increased cash flow through unit turnover, consistent rent increases, and continued market rent growth.
Property details
Location
622 Grand Fir Avenue • Sunnyvale, CA 94086
Listed by
Jimmy Castellanos · Marcus & Millichap
Nearby listings in Sunnyvale, CA
- 466 N Fair Oaks Avenue, Sunnyvale, CA · $3,500,000
- 280 W California Avenue, Sunnyvale, CA · $8,495,000
- 1212 W McKinley Avenue, Sunnyvale, CA · $3,888,000
- Sunnyvale, CA 94085 · $3,000,000
- 370 N Fair Oaks Avenue, Sunnyvale, CA · $3,200,000
- Sunnyvale, CA 94085 · $3,000,000
- 233 E Weddell Drive M, Sunnyvale, CA · $1,248,000
- 215 Charles Street, Sunnyvale, CA · $3,900,000
- 1270 Coronado Drive, Sunnyvale, CA · $11,600,000